Form 10-Q

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549


(X)   QUARTERLY REPORT PURSUANT TO SECTION 13 or 15 (d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2000
                               --------------

                                       OR

(   )  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE  SECURITIES
       EXCHANGE ACT OF 1934

For the transition period from ________________to _________________

For Quarter Ended March 31, 2000


                              TRANSNET CORPORATION
                              --------------------
             (Exact name of registrant as specified in its charter)

        DELAWARE                                       22-1892295
        --------                                       ----------
(State or other jurisdiction of          (I.R.S. Employer Identification Number)
incorporation or organization)

45 Columbia Road, Somerville, New Jersey               08876-3576
----------------------------------------               ----------
(Address of principal executive offices)                (Zip Code)

Registrant's Telephone Number, including area code: 908-253-0500

----------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last Report

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

Yes   X             No _____
    ----

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of May 3, 2000: 4,884,304


<PAGE>



                              TRANSNET CORPORATION
                                    FORM 10-Q

                                TABLE OF CONTENTS


                                                                     Page No.


PART I.  FINANCIAL INFORMATION

   Accountant's Review Report                                           1

   Consolidated Balance Sheets as of March 31, 2000 and June 30, 1999   2

   Consolidated Statements of Operations for the Three and Nine Months Ended
   March 31, 2000 and 1999                                              3

   Consolidated Statements of Cash Flows for the Nine Months Ended
   March 31, 2000 and 1999                                              4

   Notes to Consolidated Financial Statements                           5

   Management's Discussion and Analysis                                 6

PART II.  OTHER INFORMATION                                             9
-------   -----------------




<PAGE>



                           ACCOUNTANT'S REVIEW REPORT

To the Stockholders and Board of Directors of
  Transnet Corporation and Subsidiary
  Somerville, New Jersey


         We  have  reviewed  the  accompanying  consolidated  balance  sheet  of
Transnet  Corporation  and  Subsidiary  as of March 31,  2000,  and the  related
consolidated  statements  of  operations  and cash  flows for the three and nine
months ended March 31, 2000.  These  consolidated  financial  statements are the
responsibility of the Company's management.

         We conducted our review in accordance with standards established by the
American  Institute  of  Certified  Public  Accountants.  A  review  of  interim
financial  information consists principally of applying analytical procedures to
financial  data and making  inquiries of persons  responsible  for financial and
accounting matters. It is substantially less in scope than an audit conducted in
accordance with generally accepted auditing standards, the objective of which is
the  expression  of an opinion  regarding the  financial  statements  taken as a
whole. Accordingly, we do not express such an opinion.

         Based on our reviews,  we are not aware of any  material  modifications
that should be made to the  accompanying  consolidated  financial  statements in
order  for  them  to  be  in  conformity  with  generally  accepted   accounting
principles.







                                          MOORE STEPHENS, P. C.
                                          Certified Public Accountants.

Cranford, New Jersey
May 3, 2000


                                        1

<PAGE>



TRANSNET CORPORATION AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
------------------------------------------------------------------------------



                                                        March 31,     June 30,
                                                        ---------     --------
                                                         2 0 0 0       1 9 9 9
                                                         -------       -------
                                                       [Unaudited]
Assets:
Current Assets:
  Cash and Cash Equivalents                            $7,103,217   $ 7,617,241
  Accounts Receivable - Net                             8,670,719     6,736,351
  Inventories                                             568,593       886,936
  Other Current Assets                                     80,199        56,030
  Income Tax Refund                                        26,896
  Deferred Tax Asset                                      249,000       249,000
                                                       ----------   -----------

  Total Current Assets                                 16,698,624    15,545,558

Property and Equipment - Net                              539,173       745,703

Mortgage Receivable - Related Party                       250,000       250,000

Other Assets                                              418,170       577,619
                                                       ----------   -----------

  Total Assets                                         $17,905,967  $17,118,880
                                                       ===========  ===========

Liabilities and Stockholders' Equity:
Current Liabilities:
  Accounts Payable                                     $2,749,659   $ 1,160,978
  Accrued Expenses                                        296,588       374,064
  Accrued Payroll                                         224,131       258,858
  Floor Plan Payable                                    1,772,730     1,200,441
  Deferred Income                                          20,290            --
  Income Taxes Payable                                                  664,167
  Other Current Liabilities                                    --            --
                                                       ----------   -----------

  Total Current Liabilities                             5,063,398     3,658,508
                                                       ----------   -----------

Deferred Tax Liability                                     11,100        11,100
                                                       ----------   -----------

Stockholders' Equity:
  Capital Stock - Common, $.01 Par Value, Authorized
   15,000,000 Shares; Issued 7,469,524 Shares
   (of which 2,585,220 are in Treasury)                    74,695        74,695

  Paid-in Capital                                      10,686,745    10,686,745

  Retained Earnings                                     9,222,900     9,252,475
                                                       ----------   -----------

  Totals                                               19,984,340    20,013,915
  Less:  Treasury Stock - At Cost                      (7,152,871)   (6,564,643)
                                                       ----------   -----------

  Total Stockholders' Equity                           12,831,469    13,449,272
                                                       ----------   -----------

  Total Liabilities and Stockholders' Equity           $17,905,967  $17,118,880
                                                       ===========  ===========

See Notes to Consolidated Financial Statements.

                                         2

<PAGE>



TRANSNET CORPORATION AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
------------------------------------------------------------------------------


                             Three Months Ended            Nine Months Ended
                                   March 31,                   March 31,
                             2 0 0 0        1 9 9 9       2 0 0 0      1 9 9 9
                             -------        -------       -------      -------
Revenue:
  Sales                    $ 8,708,401   $ 6,398,766   $23,448,563  $22,236,819
  Service                    3,125,419     3,987,713   10,123,649    12,044,238
                           -----------   -----------   ----------   -----------

                            11,833,820    10,386,479   33,572,212    34,281,057
                           -----------   -----------   ----------   -----------

Cost of Revenue:
  Sales                      8,295,226     5,941,557   21,827,757    20,752,316
  Service                    2,416,271     2,396,189    7,627,274     7,134,704
                           -----------   -----------   ----------   -----------

                            10,711,497     8,337,746   29,455,031    27,887,020
                           -----------   -----------   ----------   -----------

  Gross Profit               1,122,323     2,048,733    4,117,181     6,394,037
                           -----------   -----------   ----------   -----------

Expenses:
  Selling, General and
   Administrative Expenses   1,460,759     1,694,153    4,372,660     5,290,704
  Bad Debt Expense              15,000         7,500       45,000        22,500
                           -----------   -----------   ----------   -----------

                             1,475,759     1,701,653    4,417,660     5,313,204
                           -----------   -----------   ----------   -----------

Operating (Loss) Income       (353,436)      347,080     (300,479)    1,080,833
                           -----------   -----------   ----------   -----------

Other Income:
  Interest Income               91,034        76,934      253,950       215,556
  Interest Income-Related
   Party                         5,610         3,637       16,954        24,372
                           -----------   -----------   ----------   -----------

  Total Other Income - Net      96,644        80,571      270,904       239,928
                           -----------   -----------   ----------   -----------

(Loss) Income Before
  Provision
  For Income Taxes            (256,792)      427,651      (29,575)    1,320,761

Provision (Benefit) for
 Income Taxes                  (80,000)      139,581           --       432,579
                           -----------   -----------   ----------   -----------

Net (Loss) Income          $  (176,792)  $   288,070   $  (29,575)  $   888,182
                           ===========   ===========   ==========   ===========

Basic Net (Loss) Income
  per Common Share         $     (0.04)  $      0.06   $    (0.01)  $      0.17
                           ===========   ===========   ==========   ===========

Diluted Net (Loss) Income
  per Common Share         $     (0.04)  $      0.06   $    (0.01)  $      0.17
                           ===========   ===========   ==========   ===========

Weighted Average Common
  Shares Outstanding -
  Basic                      4,900,864     5,216,804    4,900,864     5,216,804
                           ===========   ===========   ==========   ===========

Weighted Average Common
  Shares Outstanding -
  Diluted                    4,900,864     5,216,804    4,900,864     5,216,804
                           ===========   ===========   ==========   ===========

See Notes to Consolidated Financial Statements.


                                         3

<PAGE>



TRANSNET CORPORATION AND SUBSIDIARY
CONSOLIDATED CASH FLOWS
(UNAUDITED)
------------------------------------------------------------------------------


                                                           Nine Months Ended
                                                              March 31,
                                                        2 0 0 0      1 9 9 9
                                                        -------      -------

Operating Activities:
  Net Income                                          $  (29,575)  $   888,182
                                                      ----------   -----------
  Adjustments to Reconcile Net Income to Net Cash:
   Depreciation and Amortization                         206,530       225,150
   Loss On Sale                                               --         2,921
   Provision for Doubtful Accounts                        12,699        22,500

  Changes in Assets and Liabilities:
   (Increase) Decrease in:
     Accounts Receivable                              (1,947,067)   (1,265,473)
     Inventory                                           318,343       960,659
     Other Current Assets                                (24,169)       66,920
     Other Assets                                        159,449        13,674
     Mortgage Receivable-Related Party                        --       210,786

   Increase (Decrease) in:
     Accounts Payable and Accrued Expenses             1,476,478      (236,452)
     Deferred Income                                      20,290      (100,649)
     Other Current Liabilities                                --       (95,632)
     Income Taxes Payable                               (691,063)      367,677
                                                      ----------   -----------

   Total Adjustments                                    (468,510)      172,081
                                                      ----------   -----------

  Net Cash - Operating Activities                       (498,085)    1,060,263
                                                      ----------   -----------

Investing Activities:
  Treasury Stock Purchases                              (588,228)     (153,563)
  Capital Expenditures                                        --      (106,769)
                                                      ----------   -----------

  Net Cash - Investing Activities                       (588,228)     (260,332)
                                                      ----------   -----------

Financing Activities:
  Floor Plan Payable                                     572,289        95,677
                                                      ----------   -----------

  Net (Decrease) Increase in Cash and Cash Equivalents  (514,024)      895,608

Cash and Cash Equivalents - Beginning of Periods       7,617,241     5,378,846
                                                      ----------   -----------

  Cash and Cash Equivalents - End of Periods          $7,103,217   $ 6,274,454
                                                      ==========   ===========



See Notes to Consolidated Financial Statements.

                                         4

<PAGE>



TRANSNET CORPORATION AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Information as of March 31, 2000 and 1999 is Unaudited)
------------------------------------------------------------------------------


(1)  Summary of Significant Accounting Policies

(A) Consolidation - The consolidated  financial  statements include the accounts
of  the  Corporation  and  its  wholly  owned   subsidiary,   Century   American
Corporation.  Intercompany  transactions  and accounts  have been  eliminated in
consolidation.

(B)  Inventory  -  Inventory  consists  of  finished  goods.  The  Corporation's
inventory is valued at the lower of cost  (determined on the average cost basis)
or market.

(C) Cash and Cash Equivalents - For the purposes of the statement of cash flows,
the  Corporation  considers  highly liquid debt  instruments,  purchased  with a
maturity of three months or less, to be cash equivalents.

(D)  Earnings  Per Share - Basic  earnings  per  share is based on the  weighted
average  number of common shares  outstanding  without  consideration  of common
stock  equivalents.  Diluted earnings per share is based on the weighted average
number of common and common equivalent shares outstanding.  Diluted earnings per
share takes into  account  the shares that may be issued upon  exercise of stock
options,  reduced by the shares that may be  purchased  with the funds  received
from the  exercise,  based on the average  price during the year.  Prior periods
earnings per share data have been recalculated and no adjustment was necessary.

(2) Income Taxes

The  Corporation  has a  deferred  tax  asset of  $249,000  and a  deferred  tax
liability of $11,000 based upon temporary timing differences including inventory
capitalization,  allowance  for  doubtful  accounts,  vacation  pay accruals and
depreciation.

(3) Reclassification

Certain items from the prior year's financial  statements have been reclassified
to conform to the current year's presentation.

In the opinion of management,  the accompanying unaudited consolidated financial
statements   contain  all  adjustments   consisting  only  of  normal  recurring
adjustments  necessary to present fairly the financial position,  the results of
operations and cash flows for the periods presented.

These  statements  should be read in conjunction with the summary of significant
accounting  policies and notes contained in the  Corporation's  annual report on
Form 10-K for the year ended June 30, 1999.



                            .  .  .  .  .  .  .  .  .



                                        5

<PAGE>



MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
------------------------------------------------------------------------------



Results of Operations


Revenues for the three months ended March 31, 2000 were  $11,833,820 as compared
with  $10,386,479  for the quarter  ended March 31, 1999.  For the quarter ended
March 31, 2000 the Corporation  reported a net loss of $176,792 as compared with
net income of $288,070 for the similar  period in the prior fiscal year. For the
nine months  ended March 31, 2000,  revenues  were  $33,572,212,  as compared to
$34,281,057 reported for the similar period in the prior fiscal year, with a net
loss of $29,575 for the period ended March 31, 2000, compared with net income of
$888,182 for the same period in the prior fiscal year.  The increase in revenues
for the quarter  ended  March 31, 2000 is  attributable  to  increased  hardware
sales. The decrease in revenues for the nine-month  period ended March 31, 2000,
was primarily attributable to deferrals by major clients of initiating technical
service  projects due to their concerns with potential Y2K problems.  Management
believes that this type of deferral was  widespread and affected the industry as
a whole.  Based on recent  indications,  management  believes  that  demand  for
services is beginning to return to normal levels.

The net loss for the quarter and the nine-month period ended March 31, 2000 were
the result of the deferrals of technical service, technical support and training
services,   combined  with  the  associated  under-   utilization  of  technical
personnel,  as well as decreased  margins on hardware  sales.  Results were also
negatively  impacted by the  increased  cost of  technical  services,  including
increased labor costs and increased costs of parts. Service and training related
revenues  are  significant  in their  contributions  to earnings  because  these
operations yield a higher profit margin than equipment  sales.  Earnings for the
quarter  and  nine-month  period  ended March 31,  1999 are  attributable  to an
increase  in  service,   support  and  training  operations,   and  management's
concentration  on sales of network and system  integration  products which yield
higher profit margins,  as well as continued  adherence to and implementation of
cost control measures.  For the nine-month period ended March 31, 2000, revenues
from the provision of service, support, outsourcing and network integration were
largely the result of the  Corporation  renewing  and/or  entering  into service
contracts with a number of large corporate clients.  Most of these contracts are
short-term,  usually twelve months or less, and contain  provisions which permit
early termination. Although the contracts generally contain renewal terms, there
is no assurance that such renewals will occur.

Although  service  revenues  decreased for the quarter and nine-month  period of
fiscal 2000, hardware sales increased due to increased order volume, despite the
Corporation's  shift in focus to technical  services.  Management  continues its
concentration  on sales of network and system  integration  products which yield
higher profit margins,  and continues  adherence to and  implementation  of cost
control measures

The  computer  industry  continually  faces a trend  of  decreasing  prices  for
computers  and  related  equipment.  Management  believes  that this  trend will
continue.  Industrywide,  the  result of price  erosion  has been  lower  profit
margins on hardware sales,  which require businesses to sell a greater volume of
equipment to maintain past earning levels. Another result of the price decreases
has  been   intensified   competition   within  the   industry,   including  the
consolidation  of businesses  through merger or acquisition  and the entrance of
manufacturers into the technical services business. Management believes that the
adoption of policies  by many  larger  corporate  clients to limit the number of
vendors  permitted to provide goods and services for  specified  periods of time
has further increased price competition.




                                        6

<PAGE>



MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
------------------------------------------------------------------------------




Results of Operations (Continued)

To meet these competitive  challenges and to maximize the  Corporation's  profit
margins, management has modified its marketing strategy and has enforced expense
controls.  Management's current marketing strategy is designed to increase sales
of lower  revenue/higher  profit margin products  related to service,  technical
support  and  training   operations.   Management's  efforts  include  targeting
commercial,  educational and governmental clients which provide marketplaces for
a wide range of products and services at one time, a cost-effective  approach to
sales.  With respect to hardware sales,  the Corporation has adopted its "agency
model." Under this program, computer manufacturers ship products to and bill the
Corporation's  clients directly,  and pay the Corporation a fee of approximately
5% of the aggregate amount billed. In addition, management believes it maximizes
profits through concentration on sales of value-added applications; promotion of
the Corporation's service and support operations;  and adherence to cost-cutting
controls.  In  light of the  above,  management  emphasizes  and  continues  the
aggressive  pursuit of an  increased  volume of  technical  service  and support
programs and promotion of its training services.

Selling,  general and administrative  expenses decreased to approximately 13% of
revenue  for both the  quarter and nine  months  ended  March 31,  2000,  due to
management's  efforts  to  control  and reduce  administrative  expenses,  which
included  reduction in items such as personnel  related  costs and  distribution
expenses. Selling, general and administrative expenses were approximately 16% of
revenues for the same periods in fiscal 1999.

Interest income  increased in the quarter and nine-month  period ended March 31,
2000,  as  compared  to similar  periods in the prior  fiscal year due to higher
interest rates.

Liquidity and Capital Resources

There are no material commitments of the Corporation's capital resources.

The  Corporation  currently  finances a portion of its accounts  receivable  and
finances   purchases  of  portions  of  its  inventory  through   floor-planning
arrangements  under which such  inventory  secures the amount  outstanding.  The
amount due under this  financing  arrangement  increased  for the quarter  ended
March 31, 2000 due to the  increase in hardware  sales during the month of March
and  related  payment  timing  issues.  Inventory  decreased  in the quarter and
nine-month periods ended March 31, 2000 as compared to the corresponding periods
in the prior fiscal year in response to the  Corporation's  increased  volume of
sales at the end of the current quarter.

Accounts receivable  increased for the quarter and nine-month period ended March
31, 2000, as compared to the same periods in the prior fiscal year  primarily as
a result of increased hardware sales at the end of the quarter.  The increase in
accounts  receivable  was  also  due  to  slower  payable  cycles  from  certain
customers.  Accounts  payable  increased for the quarter and  nine-month  period
ended March 31, 2000, compared with the same periods in the prior fiscal year as
a result  of  increased  hardware  sales  volume  at the end of the  March  2000
quarter.  Although cash levels remained  relatively  constant during most of the
comparative three and nine-month periods,  costs associated with recent hardware
orders  at the end of March  2000  caused a  decrease  in cash for the three and
nine-month periods ended March 31, 2000.

For the fiscal  quarter and nine months ended March 31, 2000,  as in the similar
periods in the prior  year,  the  internal  resources  of the  Corporation  were
sufficient to enable the Corporation to meet its obligations.



                                        7

<PAGE>



MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
------------------------------------------------------------------------------


Liquidity and Capital Resources (Continued)

In the first  quarter of fiscal 1998,  management  was apprised of an unasserted
possible claim or assessment involving the Corporation's  Pension Plan. The Plan
was adopted in 1981 as a defined  benefit  plan. In 1989,  various  actions were
taken by the  Corporation  to  terminate  the Plan,  to  convert it to a defined
contribution plan and to freeze benefit accruals. No filing for plan termination
was  made  with  the  Pension  Benefit   Guaranty   Corporation   (the  "PBGC").
Additionally,  a final  amended and restated  plan  document  incorporating  the
foregoing  amendments and other required amendments  including those required by
the Tax  Reform  Act of 1986 do not  appear to have been  properly  adopted.  In
addition, since 1989, it appears that certain operational violations occurred in
the  administration  of the Plan including the failure to obtain spousal consent
in certain instances where it was required.

The  Corporation  decided to (i) take  corrective  action  under the IRS Walk-in
Closing  Agreement  Program  ("CAP"),  (ii) apply for a favorable  determination
letter with respect to the Plan from the IRS, and (iii)  terminate the Plan. The
CAP program  provides a  correction  mechanism  for  "non-amenders"  such as the
Corporation.  Under CAP, the Corporation will be subject to a monetary  sanction
(which  could range from $1,000 to  approximately  $40,000).  In  addition,  the
Corporation will be required to correct, retroactively,  operational violations,
and to pay any resulting  excise taxes and PBGC premiums and penalties  that may
be due.  Special counsel has advised the  Corporation  that although it believes
that the Corporation will incur some liability in connection with the correction
of such  operational  violations,  any  estimate in dollar terms of the range of
such liability at this time would be  speculative  and  potentially  misleading.
However,  management has been advised by counsel that the estimated  liabilities
are significantly lower than originally anticipated.

Year 2000

Since December 31, 1999, the Corporation has not experienced any significant Y2K
related  problems in its own  operations  or those of any  material  supplier or
client.

The Corporation began preparing its computer-based systems for year 2000 ("Y2K")
computer  software  compliance  issues in 1998. Many existing  computer systems,
including certain of the Corporation's  internal systems,  use only the last two
digits to identify years in the date field. As a result,  these computer systems
do not  properly  recognize a year that begins with "20" instead of the familiar
"19," or may not function properly with years later than 1999. If not corrected,
many computer  applications could have failed or created erroneous results. This
is  generally  referred to as the "Year 2000" or "Y2K" issue.  Computer  systems
that are able to deal  correctly  with dates after 1999 are referred to as "Year
2000 compliant." The Corporation's Y2K project covered both traditional computer
systems and  infrastructure  ("IT  Systems")  and  computer-based  hardware  and
software,  facilities and equipment  ("Non-IT  Systems"),  such as its telephone
system.  The  Corporation's  Y2K project had the  following  phases:  inventory;
assessment  of  action   required  to  assure  Y2K   compliance;   upgrading  or
replacement; testing; and contingency planning.

Prior to December 31, 1999,  the  Corporation  completed  the  assessment of its
critical IT systems and its main internal  computer system in order to determine
whether its systems  were Y2K  compliant.  By January 1, 2000,  the  Corporation
upgraded  or  replaced  any  non-compliant  systems.  The  Corporation  incurred
approximately $50,000 of Y2K project expenses.

The matters  discussed in  Management's  Discussion  and Analysis and throughout
this report that are forward-looking  statements are based on current management
expectations   that  involve  risk  and   uncertainties.   Potential  risks  and
uncertainties  include,  without  limitation:  the impact of economic conditions
generally  and  in  the  industry  for  microcomputer   products  and  services;
dependence on key vendors;  continued  competitive and pricing  pressures in the
industry; product supply shortages; open- sourcing of products of vendors; rapid
product  improvement  and  technological  change,  short product life cycles and
resulting obsolescence risks; technological developments;  capital and financing
availability; and other risks set forth herein.

                                        8

<PAGE>



                           PART II - OTHER INFORMATION



Item 4.  Submission of Matters to a Vote of Security Holders
         ---------------------------------------------------

        The  Corporation's  Annual Meeting of Stockholders  was held on February
28, 2000.

        At the meeting,  the  following  seven  individuals  were elected by the
following vote to serve as directors of the Corporation, each to serve until the
next annual meeting of stockholders  and until his successor is duly elected and
qualifies.

             Name                         Shares Voted

                                        For      Authority Withheld

        John J. Wilk                 3,561,214         37,220
        Steven J. Wilk               3,561,419         37,020
        Jay A. Smolyn                3,565,919         32,520
        Vincent Cusumano             3,565,169         33,270
        Earle Kunzig                 3,563,269         35,170
        Raymond J. Rekuc             3,562,969         35,470
        Susan M. Wilk-Cort           3,561,419         37,020

Item 6.  Exhibits and Reports on Form 8-K
         --------------------------------

        A.   Exhibits - None required to be filed for Part II of this report.

        B.  Reports on Form 8-K - None filed  during the  quarter for which this
report is submitted.


                                        9

<PAGE>


                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.



                                TRANSNET CORPORATION
                                (Registrant)



                                /s/ Steven J. Wilk
                                ----------------
                                Steven J. Wilk, President



                                /s/ John J. Wilk
                                ----------------
                                John J. Wilk,
                                Principal Financial and Accounting Officer and
                                Chairman of the Board of Directors




DATE:  May 12, 2000


                                       10

<PAGE>